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Are savings accounts really checking accounts?

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Do we have to change our Savings Deposits?

Regulation D has eliminated the rule on convenience transfers. So for federal reserve purposes there is very little difference between the two. We have zero reserves at this time. However, you may not want to rush into changing these without thinking through all the issues—Regulation CC being one of importance if you can make unlimited payments to a third party.


Learn more about Deborah Crawford’s webinar Alert! Deposit Regulatory Update for Second Quarter

First published on 06/14/2020

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